Laclede Q4 Net Loss Widens - Quick Facts

(RTTNews) - The Laclede Group, Inc.'s (LG) reported a wider consolidated net loss of $14.9 million, or $0.35 per share in the fourth quarter, versus a loss of $9.6 million, or $0.30 per share, last year. Net losses for the quarters reflect acquisition-related impacts, including after-tax costs of $11.2 million in 2014 and $5.5 million in 2013 that are excluded to derive NEE.

Quarterly Net Economic Earnings or NEE improved to a loss of $2.4 million or $0.07 per share, from a loss of $3.9 million or $0.17 per share a year ago. The Gas Utility segment's earnings are seasonal in nature and generally correspond to the heating season. Therefore, the segment typically reports a loss in the fiscal fourth quarter. The increase in NEE was driven by a smaller seasonal loss from Gas Utility reflecting the inclusion in 2014 of MGE's results which are less impacted by seasonality than those of Laclede Gas. The better Gas Utility earnings were partially offset by lower operating results from Gas Marketing, and a loss in the Other segment compared to essentially breakeven in the prior-year quarter.